Proactive VS Reactive Trading Decisions

Uncategorized Oct 03, 2023
Proactive vs. Reactive Trading Decisions: Striking the Balance for Success
Trading in the financial markets is a dynamic and challenging endeavor that demands a delicate balance between proactive and reactive decision-making. Proactive decisions involve creating or controlling a situation by causing something to happen, while reactive decisions involve responding to a situation as it unfolds. In the world of trading, the choice between these two approaches can have a significant impact on a trader's success and longevity in the market.
Proactive Trading: The Path to Preparedness
Proactive trading is akin to being prepared for battle. It involves a series of deliberate actions and practices that traders undertake before they even think about entering the market. Here's what proactive trading looks like:
  1. Maintaining a Calm State of Mind: Successful traders start by clearing their minds of distractions and emotional turbulence. They understand that emotional decisions can...
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Is $1,000,000 Enough To Retire?

Uncategorized Sep 25, 2023
The age old question "how much will you need at retirement" or how much is the magical number for you to hang up your comfort zone?
 
In today's day and age, making $100,000 a year is decent. Depending on lifestyle and job titles, obtaining $1,000,000 is a fantasy. However, we ask ourselves, is it enough to actually retire?
The short answer is no. The long answer is yes.
 
If the current state of our economy is foretelling, then we can safely assume $1,000,000 probably isn't the best to life comfortable, at least in the state of Hawai'i. Homes are at a median of $635,000 in 2023. Groceries and other living expenses have only increased the financial burden.
 
At Hawai'i Trading Academy, one of our pillars we emphasize is Risk, or Risk management. In order to lower risk and diversify in a broaden range of markets, the longer you can make one dollar go. If we want to stretch the power of our dollar, in this scenario, 1 million dollars to live off in...
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048 | Interview With An NFT Trader

Uncategorized Sep 18, 2023

In this episode, we are sitting with our Guest Chris Matrecito, a former Mutant Ape owner but still holds digital land in "The Otherside" by Yuga Labs, famously known for their Bored Ape Yacht Club project.Chris walks us through how he got started in Crypto/NFT Market, scams, and future endeavors that hopefully will be propelled with Cryptocurrencies. We talk Bitcoin, Ethereum, Crypto In Hawaii and how we trade crypto in Hawai'i, the future of money and much more on this episode. This is our first interview and first time we learn about a Trader involved with NFT's. Just goes to show how there is so much opportunity out there! We just have to be disciplined and do the work. The harder we work, the luckier we will get!

Resources mention in this episode:

Hawaii Crypto Beta Test: https://www.htdc.org/digital-currency-innovation-lab/

Where you can look at the NFT Market: Opensea.com

NFT tool Chris uses: https://nftgo.io/

For more info, you can find Chris on:

IG: ...

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047 | Are Funding Firms Scams?

Uncategorized Sep 10, 2023
Are Funding Firms Scams? In recent light we have heard of funding firms being put in public light how the owners are shady or lack Morales. Other traders don't care as long as they are paid out by the company. My Forex Funds (MFF) and Surge Trader have been under the lime light for frauding investors. More recently, MFF owner has been accused of using client funds to lead is lavish lifestyle.
 
 
It begs the question if we, as day traders, should be working with funding firms? In our recent Edge Up podcast, Reid and Glenn share their personal experience with funding firms and the lessons they have learned through all these funding firms popping up and disappearing just as fast as they came.
 
 
 
Aloha! We are Glenn & Reid, founders of Hawai'i Trading Academy.
Our mission: Cultivate & sustain profitable traders.
Our ethos: Be honest and transparent as we build our content off of what we consider three pillars of successful trading: Risk...
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Patience = Profits

It would be a lie if the monetary aspect of trading wasn't at the foremost of our mind when we got into trading. 

In fact, profits is what drives so many people into the market with its endless, lucrative possibilities.

However,

New traders have a misconception that they can become a full-time trader in a year or less. Although possible, it is more than likely not probable of happening. Please read: IT TAKES TIME TO BE PROFITABLE.

Patience is a key aspect of trading.

You need to be patient in a live position.

You need to be patient before you place a trade.

You need patience with yourself and the systems you have in place when you take a loss.

Some of our best trades have occurred when we just let go of hoping and expecting something to happen. We walked away from our computers and let the trade run its course.

During a month long travel, I was trading at my best. In two back to back positions on NZDUSD & EURGBP, I was able to bank about 3% to close the week. It wouldn't...

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7 Habits For Success

habits trading tips Nov 15, 2022
 

7 HABITS FOR SUCCESS

Success - the favorable or prosperous termination of attempts or endeavors; the accomplishment of one's goals.

 

  1. Show up. Showing up when you don’t want to. Consistency.  When you aren’t motivated. Showing up is sometimes the hard thing to do but there is no reward in easy work. No fulfillment. Showing up is like building muscle. Build that mental resilience. If you don’t use it and consistently develop and push that mental muscle, you will lose it. 
  2. Water your garden (mind). Pour into yourself with books and self development. There’s so much resources out there thanks to technology, there’s almost no excuse to learn something new. Ever wonder why successful people continue to learn, read, meet new people? Because they know they can still play the game and still find ways to wins. 
  3. Own your decisions. Own your successes, but in the same breathe, own your mistakes/failures as well. Every choice has risks and...
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4 Common Fears In Trading

psychology Oct 25, 2022

The Fear and Greed index on CNN business is at an extreme fear level at the time of writing this (OCT 2022).

Investors are fearful of the market uncertainty and rising prices. 

Fear is a big emotion that can be detrimental to a trader’s profitability. The good part about fear is that every. Single. Human. Experiences fear. 

Sometimes in the market it can be difficult to tell if you are trading from a place of fear or greed. 

There are four major fears that we discuss in this episode when it comes to trading. 

 1. Fear of being wrong/wanting to be RIGHT. - requires strong mental fortitude and resiliency. As long as your edge has the probability of positive expectancy, there is nothing to worry about. Your proven edge will let you know how often you will be wrong vs right and that alone should be enough to give you a peace of mind. Attaching to that fear state will lead to devastating thoughts that can affect the next trade and the one after that ending...

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